Russian diamond mining giant Alrosa has announced sales results for May and the first five months of 2019, showing a decrease in sales for both periods, according to Rough & Polished.

Credit: Alrosa

In May, Alrosa sold $266 million worth of rough and polished diamonds, compared to $288 million worth of rough and polished it sold in the same month last year. Rough sales in May 2019 totaled $261.1 million while polished diamond sales totaled $5 million. In January-May 2019, Alrosa sold rough and polished diamonds for a total of $1.589 billion, compared to $2.299 billion gained for the same period last year. During the five months of 2019, rough diamonds were sold for $1.564 billion while polished diamonds sales totaled $24.1 million.

Credit: Alrosa

Evgeny Agureev, Director of the United Selling Organization ALROSA, commented: “We see the market entering its seasonal slowdown phase. India’s cutting and polishing sector is still facing a challenge of financing, which holds back the growth in demand for diamond products. The retailers’ stock level remains quite high but keeps declining – this process will take some time […]”.